Florida Attorney General Pam Bondi Asks for Public Input on How to Spend Part of Foreclosure Fraud Settlement: Don’t Think This Means That Florida Is Finished With Foreclosure Fraud / Robosigning Problems: Not By a Long Shot.

You and I have until May 14, 2012, to send Pam Bondi our ideas on how around $300,000,000 should be used.

This isn’t all that the State of Florida got from these five lenders (read our earlier post here that gives details on these banks’ bad acts, including full text reports of the government investigation findings). Florida got $8.4 billion as a total settlement, but most of that money has already been divided up to pay for things like home loan mortgage modifications and reductions to mortgage principle balances.

Bondi is asking for public input on how to spend a part of the settlement proceeds that weren’t allocated to specific uses as part of the deal, other than to provide for “consumer relief.”

Seems that Code Compliance in various Florida areas are having a big problem finding who is the legal owner of abandoned properties in order to force them to do things like clean the place up and remove the neighborhood eyesores and community environment dangers. Why? It’s a spaghetti bowl of names to sort through – mortgage lenders, servicers, trustees, etc. – on each tract of land and apparently, a lot of finger pointing among the financial institutions that they’re not responsible for paying the upkeep expenses.

Which means that individual Floridians need to be very careful in all their real estate dealings. Now is not the time to make decisions without the advice and guidance of an experienced Florida real estate attorney.

If you have questions or comments, please feel free to Chat with Larry in the comments below, at info@hallandalelaw.com or (954) 458-8655.

Below, the complete news release from Florida AG Pam Bondi:

Attorney General Pam Bondi News Release

April 30, 2012\Media Contact: Jenn Meale\Phone: (850) 245-0150

Attorney General Pam Bondi Seeks Public Input on Distribution of $300 Million in Settlement Funds for Housing-Related Programs

TALLAHASSEE, Fla.—Attorney General Pam Bondi invites the public to make suggestions on how best to distribute approximately $300 million recovered on behalf of Florida’s consumers in the national mortgage servicing settlement. From Monday, April 30, through Monday, May 14, at 5 p.m., the public can submit suggestions to the Attorney General’s Office by visiting MyFloridaLegal.com.

“Florida is one of the hardest hit states in the country in terms of foreclosures, and I’d like to hear from Floridians about ways we can help homeowners and offset the devastation caused by the foreclosure crisis,” stated Attorney General Pam Bondi.

In the next several weeks, Attorney General Bondi will be evaluating input from the public, interested stakeholders, and representatives of the Governor’s Office and the Legislature before distributing settlement funds.

In February 2012, Attorney General Pam Bondi entered a $25 billion joint federal-state agreement with the nation’s five largest mortgage servicers over foreclosure abuses and unacceptable nationwide mortgage servicing practices. The court-approved settlement calls for the Attorney General to direct approximately $300 million in consumer relief for purposes intended to avoid preventable foreclosures, to ameliorate the effects of the foreclosure crisis, and to enhance law enforcement efforts against financial fraud.

The settlement agreement lists permissible uses of the settlement funds, including: housing counselors, state and local foreclosure assistance hotlines, state and local foreclosure mediation programs, legal assistance, housing remediation and anti-blight projects, and training and staffing of financial fraud or consumer protection enforcement efforts. More information regarding the uses of these settlement funds can be found under “Exhibit B” of the final settlement agreement. Mortgage Settlement Link

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These articles are for informational purposes only and should not be relied upon as legal advice. Florida law is constantly changing. Therefore, we strongly recommend talking with a Florida real estate lawyer to learn your rights.